Allianz Asset Management GmbH grew its holdings in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 39.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 897,853 shares of the pipeline company’s stock after buying an additional 252,195 shares during the period. Allianz Asset Management GmbH owned approximately 0.10% of TransCanada worth $44,274,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of TRP. Dimensional Fund Advisors LP grew its stake in shares of TransCanada by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 280,265 shares of the pipeline company’s stock worth $12,934,000 after buying an additional 10,647 shares in the last quarter. Sei Investments Co. grew its stake in shares of TransCanada by 62.9% in the 2nd quarter. Sei Investments Co. now owns 144,623 shares of the pipeline company’s stock worth $6,894,000 after buying an additional 55,863 shares in the last quarter. IFP Advisors Inc grew its stake in shares of TransCanada by 3.3% in the 2nd quarter. IFP Advisors Inc now owns 25,608 shares of the pipeline company’s stock worth $1,221,000 after buying an additional 811 shares in the last quarter. Global X Management Co. LLC grew its stake in shares of TransCanada by 10.8% in the 2nd quarter. Global X Management Co. LLC now owns 571,744 shares of the pipeline company’s stock worth $27,255,000 after buying an additional 55,552 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its stake in shares of TransCanada by 1.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock worth $580,000 after buying an additional 182 shares in the last quarter. 57.32% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on TRP shares. BidaskClub cut shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Morgan Stanley began coverage on shares of TransCanada in a research note on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective for the company. Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co began coverage on shares of TransCanada in a report on Thursday, October 5th. They issued an “overweight” rating for the company. Finally, TD Securities upgraded shares of TransCanada to a “buy” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. TransCanada presently has a consensus rating of “Buy” and a consensus price target of $61.20.
TransCanada Corporation (TRP) traded up $0.02 during trading on Thursday, hitting $48.78. 743,900 shares of the stock traded hands, compared to its average volume of 1,048,389. The company has a market cap of $42,789.43, a price-to-earnings ratio of 21.29, a PEG ratio of 2.32 and a beta of 0.66. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. TransCanada Corporation has a 12-month low of $44.27 and a 12-month high of $51.85.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.491 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.03%. TransCanada’s dividend payout ratio (DPR) is presently 125.16%.
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TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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